Global Whipping Cream Market - Segmented by Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global whipping cream market is expected to reach USD 3.32 billion by 2023 at a CAGR of 4.2%, during the forecast period. The global whipping cream volume sale recorded a growth of 1.7%, in the past five years. Europe consumed about 304 million Kg of Whipping Cream in 2017, which is growing at a stable growth rate.
Germany is the largest market for whipping cream with a massive volume consumption of 128 million Kg in 2017, which is followed by the US. However, the value sales declined by 2.6% during the last five year in Germany. Increased consumption of confectionery and toppings, growing demand for lactose-free, organic whipped cream and low fat cream has fueled the Whipping Cream market growth.
Bakery and Food Service Driving sales
Whipping cream is mostly consumed on bakery and pastry products to provide fluffy, softness, and creamy texture that retains for long. The whipped cream demand is growing in food service channel for bakery, soups, meat, ready cooked dishes, and ice cream application. The global Cakes, Pastries & Sweet Pies market crossed a sale of 14607 million Kg in 2017 with Europe accounting for major share. Pastries are the fastest growing category in baked goods that accounts for 80% of the absolute volume growth in the past five years. China is another significant market, which accounts for more than 50% of the baked food growth globally.
Asia-Pacific Posses Growth Opportunity
Australia is the most significant market in Asia-Pacific, with a whipped cream market size of USD million in 2017, which is followed by Japan. China, Thailand, India are at the nascent stage that possesses potential opportunity for the market growth. China whipped cream market is expected to register a CAGR of 8.4%, during the forecast period. Expanding foodservice channel in Asia-Pacific, which makes use of ready-made cream is the future whipped cream market opportunity for companies. Increased international flux, which has raised the popularity of multi-cuisine is driving the whipped cream application. Besides, the food-service channel has experienced a healthy growth rate in countries, such as India, China, and Vietnam. Rising consumption of coffee and growing demand for specialty coffee in Vietnam, China, India, and Indonesia are another opportunities for whipped cream application. Indonesia is the fastest growing retail coffee market in Asia observed a growth rate of 17.5% during 2012-2016, followed by India and Vietnam. The launch of cold coffee in Asia during 2011-2016 has almost doubled driven by the local taste preference.
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